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ED Freezes 182 Bank Accounts, Seizes Rs.1 Cr Cash in Chit-fund Scam
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Bhubaneswar: The Enforcement Directorate (ED) has frozen 182 bank accounts and seized more than Rs 1 crore in cash and six high-end cars during a raid in connection with Rs 2,000 crore multi-state chit fund scam, officials said on Tuesday.
The raids were conducted on the premises of ex-Andhra Pradesh MLA Malla Vilaya Prasad, Varaha Ramakrishna Satya Sinivasa Rao Alla and others, it said.
The ED has also issued freezing orders for 182 bank accounts along with seizure of six high-end luxury vehicles of WBEPL and its Directors.
The ED's Bhubaneswar office initiated the investigation based on multiple FIRs and subsequent chargesheets filed by the Economic Offences Wing (EOW) of Odisha Police, CBI, and the Anti-Corruption Bureau (ACB), Jharkhand.
The company, later, closed its operations from the branch offices located across multiple states of India and thereby cheated the investors, it said.